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Budget Impact <br />The funding sources are summarized in the following table: <br />PIR Fund (roadway and signal replacement) $ 206,127 <br />Special Assessments (new Target Rd signal) 196,000 <br />State Bonding Funds (water main replacement) 500,000 <br />City Water Utility Fund 66,069 <br />LRIP Grant Funds 41,804 <br />Total Estimated Funding $ 1,010,000 <br />The table below shows the final actual project costs: <br />General construction <br />$ <br />222,472.65 <br />Target Rd signal construction <br />$ <br />149,426.83 <br />Watermain construction <br />$ <br />388,563.16 <br />General Engineering Costs <br />$ <br />98,128.22 <br />Target Rd. Signal Engineering Costs <br />$ <br />63,466.06 <br />Right of Way Costs <br />$ <br />351,325.00 <br />Total project cost: <br />$ <br />1,273,381.92 <br />Actual project expenditures exceed the project budget by $263,381.92. This is primarily due to <br />the actual Right -of -Way costs coming in much higher than what Ramsey County estimated in <br />2019/2020 when the project was presented to the City Council. While the PIR fund currently has <br />a sufficient balance to cover the overage, Council will need to revisit the projected depletion of <br />these funds during the Summer 2026 budget sessions for the 2027 fiscal year. <br />Attachments <br />Attachment A: Invoice PUBW-021967 from Ramsey County <br />Attachment B: Invoice PUBW-021965 from Ramsey County <br />Page 2 of 2 <br />